Bill > S555

This bill, titled the "Working Families Act", proposes several key provisions: 1. It reduces parent copayments for subsidized child care from 10% to 7% of gross family income, effective July 1, 2023. 2. It reenacts the child tax credit, increasing the credit amount for lower-income families. 3. It increases the statewide minimum wage from $6.15 to $15 per hour effective Labor Day 2023, and allows local governments to set a higher local minimum wage. 4. It expands the income eligibility limit for the property tax homestead circuit breaker from 150% to 180% of the income eligibility limit. 5. It creates a homebuyers' assistance program through the North Carolina Housing Finance Agency to provide down payment and mortgage insurance premium assistance to first-time homebuyers who are public servants. 6. It enacts the North Carolina Paid Family Leave Insurance Act, establishing a program to provide paid family and medical leave benefits to eligible workers, funded by employer contributions, and creates an Employer Grant Fund to offset the costs for employers. The bill appropriates funds from the General Fund to support the new homebuyers' assistance program and the Employer Grant Fund for the paid family leave program.

https://www.ncleg.gov/BillLookUp/2023/S555